Word: buying
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Dates: during 1960-1969
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...evil. As Christians, we have felt impelled to state without reservation that it is a glorious gift of God." When the British woman's magazine Nova asked a mother what she would tell her daughter about sex when she reached 16, the mother replied: "Tell her? Probably buy her a diaphragm...
...rate of 18,000 a month. Part of the explanation is an ingenious lottery called the consorcio, which gives Brazilians a gambler's chance to acquire a new car far sooner than they otherwise could-unless, of course, they happen to have enough ready cash to buy one outright...
Spinning the Basket. The way a typical consorcio works: 80 or so would-be buyers get together, pool enough money each month to buy two cars. The group gathers at an auto showroom, where some lucky member gets one of the cars by the spin of a bingo-style basket. For him, the effect is much the same as if he had made an installment plan purchase: he takes possession of the car right away, goes on making payments into the consorcio each month thereafter...
...been, will probably wind up with a car sooner than if he had merely put aside the same amount of money every month on his own. Reason: the extra cash accumulated in each auction, coming on top of the members' regular monthly payments, enables the consorcio to buy-and distribute by lottery-a third, or maybe even a fourth new car every couple of months...
Safe & Lucky. In short, the consorcio is a kind of collective buy-now, pay-later plan by which credit-wary Brazilians can be sure of getting a car-though they can never know exactly how soon-without making huge down payments or interest charges. Actually, the technique was devised in the early 1950s by enterprising tailors who had been having trouble selling clothes. Before long, freelance car-buying consorcios sprang up, but these were often marked by fraud...